Analysts Set Tango Therapeutics, Inc. (NASDAQ:TNGX) Target Price at $13.00

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) have earned a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $13.60.

TNGX has been the subject of several recent research reports. Wolfe Research started coverage on Tango Therapeutics in a research note on Tuesday, November 18th. They issued a “peer perform” rating for the company. Stifel Nicolaus began coverage on shares of Tango Therapeutics in a research note on Wednesday, December 3rd. They set a “buy” rating and a $15.00 price objective for the company. B. Riley raised their target price on shares of Tango Therapeutics from $8.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Piper Sandler upped their price target on Tango Therapeutics from $11.00 to $14.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Guggenheim increased their price target on Tango Therapeutics from $10.00 to $12.00 and gave the company a “buy” rating in a report on Friday, October 24th.

Tango Therapeutics Stock Performance

NASDAQ TNGX opened at $13.01 on Thursday. The company has a market cap of $1.75 billion, a PE ratio of -13.99 and a beta of 1.75. The firm’s 50 day moving average price is $9.50 and its 200-day moving average price is $7.97. Tango Therapeutics has a 52-week low of $1.03 and a 52-week high of $13.18.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.01 by $0.12. Tango Therapeutics had a negative net margin of 151.15% and a negative return on equity of 60.80%. The business had revenue of $53.81 million during the quarter, compared to the consensus estimate of $41.35 million. On average, analysts forecast that Tango Therapeutics will post -1.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 477,401 shares of Tango Therapeutics stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $10.15, for a total transaction of $4,845,620.15. Following the transaction, the insider directly owned 13,386,574 shares in the company, valued at approximately $135,873,726.10. The trade was a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 7.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tango Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Congress Asset Management Co. raised its stake in Tango Therapeutics by 2.9% during the fourth quarter. Congress Asset Management Co. now owns 234,628 shares of the company’s stock valued at $2,079,000 after buying an additional 6,508 shares during the last quarter. SG Americas Securities LLC bought a new position in Tango Therapeutics in the 4th quarter worth about $195,000. Tudor Investment Corp ET AL bought a new position in Tango Therapeutics in the 3rd quarter worth about $450,000. Harvest Investment Services LLC purchased a new stake in Tango Therapeutics during the 3rd quarter valued at about $267,000. Finally, Vivo Capital LLC increased its stake in Tango Therapeutics by 29.4% during the 3rd quarter. Vivo Capital LLC now owns 776,699 shares of the company’s stock valued at $6,524,000 after purchasing an additional 176,699 shares in the last quarter. Institutional investors and hedge funds own 78.99% of the company’s stock.

About Tango Therapeutics

Tango Therapeutics is a clinical-stage biotechnology company dedicated to developing precision medicines that exploit genetic vulnerabilities in cancer cells. Leveraging a proprietary synthetic lethality platform, the company identifies and targets tumor-specific dependencies in DNA damage response and related pathways. By focusing on tumor cell collateral sensitivities, Tango aims to bring differentiated small-molecule therapies to patients with genetic alterations that confer increased susceptibility to targeted inhibition.

The company’s lead pipeline comprises several early-stage programs, including inhibitors designed to selectively disable DNA repair proteins in tumor cells while sparing normal tissues.